Fox Factory Holding Corp (FOXF)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,242,300 | 1,618,340 | 1,515,730 | 1,286,560 | 609,316 |
| Total stockholders’ equity | US$ in thousands | 1,221,760 | 1,121,390 | 894,082 | 719,171 | 422,200 |
| Financial leverage ratio | 1.84 | 1.44 | 1.70 | 1.79 | 1.44 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,242,300K ÷ $1,221,760K
= 1.84
The financial leverage ratio of Fox Factory Holding Corp has shown some fluctuations over the past five years. In 2023, the financial leverage ratio increased to 1.84 from 1.44 in 2022, indicating an increase in the company's level of financial leverage. This may suggest that the company has taken on more debt relative to its equity in 2023 compared to the previous year.
Comparing to 2021 and 2020, the financial leverage ratio was 1.70 and 1.79, respectively, which were lower than 2023 but higher than 2022. This implies that in 2023, the company's financial leverage level was higher compared to 2021 and 2020.
In 2019, the financial leverage ratio was at 1.44, which is the same as 2022. This may indicate a relatively stable financial structure in 2019 and 2022.
Overall, the trend in the financial leverage ratio of Fox Factory Holding Corp suggests fluctuations in the company's capital structure and the level of debt compared to equity over the past five years. Further analysis of the company's financial health and risk management strategies would be necessary to fully evaluate the implications of these changes.
Peer comparison
Dec 31, 2023